True or False 1. Marginal revenue is the addition to total revenue by selling one more...
True or False
1. Marginal revenue is the addition to total revenue by selling one more unit of a product.
2. If a firm operates in oligopoly market its product has no close substitutes.
3. In order to sell an additional unit a firm in monopolistic competition markets must lower its price.
4. Competitive labor markets will discourage an employer from discriminating based on the employer’s prejudice.
Homework Answers
1.True
Marginal Revenue=Change in total revenue per unit change in output.
2.False
Products in oligopolistic structure are close substitutes of one another
3.True.
The demand curve of a monopolist is downward sloping. Thus,it must lower its price in order to sell more
4.True.
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True or False
1. Marginal revenue is the addition to total revenue by selling
one more...
1.Value of marginal product differs from marginal revenue product in each of the following except __________....
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30. The change in total revenue that results fr A. Marginal cost. B, Marginal revenue C....
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Question 6 Marginal revenue is the change in total revenue divided by the change in total...
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18 20,21,22,23 Question 18 2 pts The marginal revenue received by a firm in a perfectly...
18 20,21,22,23
Question 18 2 pts The marginal revenue received by a firm in a perfectly competitive market: O is greater than the market price. O is equal to its average revenue. increases with the quantity of output sold. is less than the market price. Question 20 2 pts An individual firm in a perfectly competitive industry faces a demand curve with O unit elasticity O elasticity greater than zero but less than one. zero elasticity infinite elasticity Question 21...
1. Which of the following is true for a monopolist? a. Its marginal revenue curve is...
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Which of the following options best describes market structures from the lowest to the highest degree...
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1)The marginal product of labor is equal to the A. total product divided by the total...
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1. A cartel is a group of firms that attempts to a. maximize joint revenue. b....
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30. The change in total revenue that results fr A. Marginal cost. B, Marginal revenue C. Marginal profit. D. Total revenue erease in qipntity sold is: 31. For a monopolist, marginal revenue is A. Equal to price, just as it is for a perfectly competitiy B. Constant up to the rate of output that maximizes tot i C. Always less than price, after the first unit. D. The same as the demand curve. loral 32. For a monopolist, after the...
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18 20,21,22,23
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